Excelsior Correspondent
JAMMU, Apr 19: Association of Industries (AOI), Gangyal today urged upon the State BJP chief Sat Sharma and party general secretary Ashok Koul to take up the issue of incentives under GST with the Central Govt.
A delegation led by Rajesh Jain, president, AOI-Gangyal, SB Abrol general secretary, Rajendra Gupta president, Laghu Udyog Bharti, Parveen Pargal- general secretary, Laghu Udyog Bharti; Ajay Pargal and Kishore Gupta, met Sat Sharma and Ashok Koul and discussed the issue of incentives to industrial sector under GST regime.
“As GST is going to be implemented from July 1st-2017, the impact of GST to industries in J&K State is going to be very adverse if present set of incentives being availed from State / Centre are not extended. The fact is that J&K is land locked state, militancy and cross border terrorism affected having negligible market for finished products and non-availability of raw material as well as skilled labour. That is why a very meager investment from within the State and outside the State arrived in last 10 years inspite of having good package of incentives. These incentives are more or less to provide us a level playfield as we are having more input cost and high cost of production on our products. So without incentives under forthcoming GST, existing industry in J&K cannot survive not to expect fresh / new investment in future, ” Jain said.
AOI president emphasized the local leaders to convince Mehbooba Mufti, Chief Minister and also appealed to Union Finance Minister, Arun Jaitely to extend all incentives presently being available should continue in the forthcoming GST regime.
Jain further apprised both the BJP leaders that since last two years no incentive out of central package was disbursed to J&K and claims sanctioned worth Rs 60 crores belong to industry are still pending for disbursement here. Industry cannot bear the burden of high cost of credit in the absence of non-availability of incentive portion, CIS as well as Interest Subsidy. The delegation urged them to take up matter with Union Minister for Industries & Commerce, Nirmala Sitharaman on behalf of industries of J&K State for early release of funds.
Follow our WhatsApp channel